Posts in category: TRADING

The value of Myanmar’s maritime trade between 1 October and 19 November of the current mini-budget period 2021-2022 jumped to US$2.88 billion, which reflected an increase of $201.69 million as against last FY. The figures soared from $2.679 billion during the year-ago period, according to the Ministry of Commerce. While maritime exports were valued at $1.3 billion, imports were registered at $1.56 billion.

Compared to the same period in the 2020-2021 financial year, imports fell by $94.768 million, while exports registered an increase of $296 million. Meanwhile, the value of trade through the border this FY was estimated at $667.6 million, which plunged drastically from$1.34 billion registered last FY. Myanmar’s sea trade generated $19.8 billion out of an overall trade value of $29.5 billion in the FY2020-2021, the Ministry of Commerce’s statistics indicated.

Myanmar exports agricultural products, fishery products, minerals, livestock, forest products, finished industrial goods, and other products, while it imports capital goods, consumer goods, and raw industrial materials. The country currently has nine ports involved in sea trade. Yangon Port is the main gateway for Myanmar’s maritime trade and includes the Yangon inner terminals and the outer Thilawa Port. Yangon inner terminal and the outer Thilawa Port received more than 150 larger ships of above 30,000 DWT (deadweight tonnage) this year after the draft limit is extended up to 10 metres with the new navigation channel accessing to inner Yangon River.

Source: The Global New Light of Myanmar

Farmers say they are facing difficulties in transporting local agricultural products after the opening of a bridge checkpoint near Hlaing Wa village on the outskirts of Kawkareik to curb illegal trade in imports from the Myawaddy border to the local market. Min Thu, a private egg farmer in Myawaddy, said that the checkpoint at the Kawkareik checkpoint was not subject to strict checks on the illegal import of imported goods, but was restricted to the export of local products. “Yesterday, we left the Myawaddy area at around 900 am and were transported to Moulmein in a small vehicle,” he said. 

When we arrived at the checkpoint at Kawkareik Bridge, we were not allowed to cross the truck. Gate officials say local products will only be taxed with the approval of the local Department of Agriculture and trade taxes. Now it is not easy to transport local products from one city to another, ”said Min Thu. In Myawaddy Township, besides paddy, maize; beans , Watermelons are also cultivated by local people and transported to townships for local consumption.

A farmer said that although the Myawaddy border is said to be a checkpoint to control the flow of illegal border goods to increase legal trade volume, farmers are also facing difficulties as they control local agricultural products. A border trader from Myawaddy said, “To increase legal trade; Increasing state revenue is not enough just by opening checkpoints to curb illegal trade. “Traders need to get on the right track. If the tariffs are easy and cheap, all border traders will get on the right track.” Saw Myint Oo, chairman of the State Council, and members of the council opened a joint checkpoint on December 1 to crack down on illegal trade at the site of a broken bridge on the Thai-Burmese border trade route in Kawkareik.           

Source: The Global New Light of Myanmar                              

Although Myanmar exported the watermelon to China, the market situation is still unknown, according to the fruit commodity depot. Currently, about 21 fruit loaded trucks reached in Wamding haven’t yet arrived at the fruit market. Consequently, the actual cost and price in China side are not identified yet. During the COVID-19 period, although the trucks were reached on the Chinese side through the border checkpoints, they should be stopped in the red zone for 24-hour quarantine, customs clearance in the yellow zone and re-tested and obtained COVID-19-free certificate in the F zone. Besides, the Chinese’s customs system has been transformed from a border trade system to a normal trade system.

It has been also reported that the export tax will be levied on the overseas shipping system which has been delayed due to the pending changes in China’scustoms system, according to the Khwanyo Fruit Warehouse. The traders head that cost of customs duty will be around 800- 1,000 yuan per tonne. The required documents and banking system need to be updated even with the normal trading system. Now, they are negotiating with the Chinese authorities. It will take time, said a trader from the Khwanyo Fruit Warehouse. Therefore, the watermelon growers and traders should only harvest after receiving and observation the information. Currently, there are about 500 fruit loaded trucks in Shwe Lwin Inn ground in Kyinsankyawt border checkpoints.

Thus, the fruits trucks reached in Muse 105 th mile are temporally stopped to transport Kyinsankyawt checkpoint, according to the fruit traders. The truck’s load of watermelon will be brought to China via Chinese trucks after they unload their goods in Myanmar. Last 26 September, the Kyinsankyawt border post between Myanmar and China has reopened on a trial run. Myanmar’s goods weighing five containers can be delivered to China then. On 27 November, two truckloads of watermelon were put into a container and sent to China. During the COVID-19 period, the transport charges are over one time higher than the previous rate, it is learnt. Transport charges were around K800,000 to one million, whereas it costs approximately K2 million for now. Traders cannot expect trade facilitation according to the changes in China’s policy during the COVID-19 pandemic. If the restrictions are eased and negotiation goes smooth, the trade will go back to normality.

Source: The Global New Light of Myanmar

Myanmar has planned to deliver two million tonnes of corn to the external market in the current 2021-2022 corn season, U Min Khaing, chair of Myanmar Corn Industrial Association said. At present, Myanmar’s corn is exported to China via border posts and they are also conveyed to the Philippines, India, Viet Nam, Laos and Singapore. The corn price remains on the high side compared to the rates recorded in the previous years, U Min Khaing continued. The prevailing prices of corn move in the range of K690-K710 per viss (a viss equals 1.6 kilogrammes), whereas the FOB price is approximately US$240-260 per tonne.

Approximately 2.3 million corns were shipped to the foreign trade partners in the past 2020-2021 (Oct-Sept) financial year, Myanmar Corn Industrial Association stated. Of them, the majority of them went to Thailand and the remaining was also sent to China, India and Viet Nam. Thailand gives green light to corn imports through Mae Sot under zero tariff (with Form-D), between 1 February and 31 August. Thailand has granted tax exemption on corn imports between February and August.

However, Thailand imposed a maximum tax rate of 73 per cent on corn import to protect the rights of their growers if the corn is imported during the corn season of Thailand. During the FY 2019-2020 ended 30 September, the country exported 2.2 million tonnes of corns to the external market, with an estimated value of $360 million, the Ministry of Commerce’s data showed. Myanmar is the second- largest exporter of corn among regional countries. At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three corn seasons. The country yearly produces 2.5-3 million tonnes of corn.

Source: The Global New Light of Myanmar

Singapore is the second-largest importer of Myanmar in the financial year 2020-2021, with an estimated value of US$2.6 billion, the Ministry of Commerce data showed. During the previous FY, the value of Myanmar’s bilateral trade with Singapore in normal trade and border trade topped $2.8 billion.

The Ministry of Commerce reported that imports surpassed exports in trade with Singapore, with exports reaching $207.4 million and imports valued at over $2.6 billion. Myanmar trade deficit in goods with Singapore was estimated at $2.39 billion. Singapore is Myanmar’s second-largest trading partner in the region, after Thailand.

Myanmar exports agricultural products, footwear, textiles and clothing, minerals, and animal products to Singapore, while it imports plastics, fuel oil, capital goods, intermediate goods, consumer products, metals, and chemicals. Myanmar’s bilateral trade with Singapore has registered $3.8 billion in the 2019-2020FY, $3.5 billion in the 2018-2019FY, $1.99 billion in the 2018 mini- budget period, $3.83 billion in the 2017-2018FY, $2.96 billion in the 2016-2017FY, and $3.69 billion in the 2015-2016FY.

Source: The Global New Light of Myanmar

From October to the end of September of the 2020-2021 fiscal year, Myanmar exported more than $ 3,609 million from the CMP garment sector, followed by natural gas with more than $ 3,119 million, according to the Ministry of Commerce. From October to the end of September of the 2020-2021 fiscal year, Myanmar exported $ 3,609.63 million worth of garments from the CMP sub-sector. Exports of natural gas reached $ 3,119.87 million and rice and broken rice $ 700.13 million, according to the Ministry of Commerce. In the fiscal year 2020-2021, Myanmar was the largest exporter of 10 countries with $ 4,905.80 million, followed by Thailand with $ 3,172.26 million, according to the Ministry of Commerce. $ 944.21 million to Japan; $ 836.37 million to India; $ 620.59 million to the United States; $ 426.25 million to Germany; $ 411.71 million to Spain; $ 385.40 million to the UK; $ 366.18 million to the Netherlands; $ 305.76 million was exported to South Korea.

From October 1 to the end of September of the 2019-2020 fiscal year, Myanmar-China trade amounted to more than $ 12.126 billion, and China imported more than $ 6.724 billion worth of imports. From October to September of the 2019-2020 fiscal year, Myanmar-China trade amounted to 12126.278 million US dollars, with exports from Myanmar 5401.943 million and imports from China 6727.335 million US dollars. In the fiscal year 2019-2020, the trade volume between Myanmar and India was over 1,300 million dollars, a decrease of over 130 million dollars from the same period last year. From October 1 to the end of September of the 2019-2020 fiscal year, Myanmar exported $ 616.464 million worth of goods to India, while India imported $ 696.937 million worth of goods, with a total trade volume of $ 1,313.401 million.

In the first six months of the 2019-2020 fiscal year, Myanmar’s major trading partners were China with more than 33 percent, Thailand with 13.6 percent; Singapore 9.7%; Japan and 5.3 percent; India and 4%; Pyidaungsu Hluttaw, 34.3% trade with other countries Public Accounts Joint Committee; According to the findings and opinion report No. (8/2020) regarding the first six months report of the National Plan for the fiscal year 2019-2020. Due to COVID-19, trade between Myanmar and Thailand in the 2019-2020 fiscal year was just over US $ 5,100 million, a decrease of over US $ 350 million from the previous year. The main priority areas of the National Export Strategy 2020-2025 are agro-based food production, textile and clothing sector, industry and electronics, fisheries sector, forest products sector, digital products and services, logistics services, quality management sector, trade Information services and innovation and entrepreneurship.

Source: Daily Eleven

Kyinsankyawt border post between Myanmar and China will be reopened commencing from 25 November, said U Min Thein, vice-chair of the Muse rice depot. On 22 November, the border crossing will resume on a trial run starting from 1 pm in the afternoon for three days. “If the trial run of the border post is successfully completed, the border checkpoint will resume its operation on 25 Nov as it is set to be,” U Min Thein elaborated. About 10,000 trucks load of goods, which have been stockpiled in the respective warehouses in Muse 105 mile, will be delivered first, he continued.

China has closed down the remaining land borders (Kyinsankyawt, Wamting) from 8 July 2021 following the COVID-19 cases in Myanmar. On 30 March, Mang Wein, which is a major border crossing between Muse and Kyalgaung areas, was suspended owing to the COVID-19 cases. On 1 April, Nantaw and Sinphyu border checkpoints were suspended operations. As a result of this, the border trade between Myanmar and China was completely halted. The closure of the Sino-Myanmar border trade resulted in job loss of about 400,000-600,000 workers engaged in the Muse land border.

Furthermore, the short-haul trucks from Muse to China were also affected by this consequence. Additionally, traders from the Muse border post were also battered by trade suspension, causing a revenue loss. Myanmar exports agricultural products, including rice, beans and corns, and fishery products such as crab, prawn, etc. Furthermore, Myanmar’s natural gas export to China is also conducted through the Muse-Ruili border. The raw CMP materials, electrical appliances and consumer goods are imported into the country. The land borders next to the Muse border are Nantaw, Sinphyu, Mang Wein, Kyinsankyawt-Wamting and Panseng-Wamting.

Source: The Global New Light of Myanmar

China topped the list of the ten Myanmar’s exported counties with US$4.9 billion, followed by Thailand with $3.17 billion in the 2020-2021 financial year (FY), according to the Ministry of Commerce. The country also exported goods worth $944.21 million to Japan, $836.37 million to India, $620.59 million to the United States, $426.25 million to Germany, $411.71 million to Spain, $385.40 million to the United Kingdom, $366.18 million to the Netherlands and $305.76 million to South Korea, the Ministry’s figures said.

The bilateral trade between Myanmar and China amounted to over $12.13 billion from October to September of the 2019-2020FY, including over $5.4 billion worth of exports and over $6.7 billion worth for imports, according to the data released by the Ministry. In the same period of the 2019-2020FY, the value of border trade between Myanmar and India totalled over $1.3 billion, down over $130 million compared with the same period last year. The Myanmar- India total border trade during the period was shared by Myanmar’s export of $616.46 million and its import of $696.94 million.

Bilateral border trade between Myanmar and Thailand stood over $5.1 billion in the FY2019-2020, which saw a decrease of over $350 million from the corresponding period of last year. The country’s export to neighbouring Thailand reached $3.09 billion while its import shared $2.01 billion. Agro-based food production, textile and clothing, industry and electronics, fishery production, forestry production, digital production and services, logistics services, quality management, trade information services and innovation and entrepreneurship sectors are the main priority areas of the National Export Strategy (NES) 2020-2021. NES programme was launched in 2015 and includes textiles and garments, forestry products, beans, pulses and oilseeds, rice, fishery, rubber and tourism sectors.

Source: The Global New Light of Myanmar

Myanmar generated US$700.13 million income from exports of rice and broken rice in the past financial year 2020- 2021 (Oct-Sept), according to Myanmar Customs Department. Border trade disruption triggered by the COVID-19 consequences led to sluggish market and the export price dropped.

The prices of white rice varieties range US$310-US$355 per MT depending on the different varieties and quality, according to the Myanmar Rice Federation (MRF). The export price of Myanmar’s rice was relatively lower than the rates of Thailand and Viet Nam. Yet, the prices were higher than those market prices of India and Pakistan, MRF’s data showed.

Myanmar shipped more than 216,375 metric tons of rice and broken rice in October of the current mini-budget period (Oct 2021-Mar 2022), according to Myanmar Customs Department. China is the main buyer of Myanmar rice, followed by Ivory Coast, the Philippines, Viet Nam and Guinea. Meanwhile, Myanmar exported broken rice primarily to China, followed by the Netherlands, Belgium, Spain and France.

Source: The Global New Light of Myanmar

There are very few conditions for the opening of official border checkpoints in Myanmar this year, including the official border trade posts in Muse, northern Shan State. Members of the delegation, led by the mayor of Shweli, Yunnan Province, Yunnan Province, China, and officials from Muse District, Myanmar held an online discussion with a group of Muse township officials on November 20, and China made the remarks at the meeting. On the Chinese side, Muse, KhamKham၊ In Pangsai (Kyukot) and Mong Ko, only the COVID-19 virus-free border gate is being reopened, and in the other cities bordering China, the COVID-19 virus-free border gate is being reopened.

To prevent the people from becoming infected with COVID-19, in areas such as Muse, NamKham, Pansai (Kyu Kot) and Mong Ko, COVID-19 should be cleared to prevent outsiders from entering. There is a Clock Lock program. From the 105-mile trade zone, people will not be allowed to drive uphill, but will be driven by Shantin drivers. They will exchange goods by spreading the spray. They are then notified in writing when the systems are ready to be sent there. They said it would open only then. They have also discussed doing the same at every Sino-Burmese border gate. They said they would open it depending on our COVID-19 clearance. It may take some time to open. It will be a Fri time before it opens this year. Similarly, it is in contact with China.

Despite the presence of COVID-19 in countries bordering China, only one country. Myanmar is cracking down on COVID-19, and the Chinese government in Telhong has closed its border gates since early this year due to the presence of COVID-19 on the Myanmar-China border. Border trade between the two countries was suspended during the closure of these gates. Except for natural gas and COVID-19 preventive medicine, other goods were discontinued. China, which borders Myanmar; Thailand Laos India Despite the presence of the COVID-19 virus in Bangladesh, all border trade points, with the exception of one border with China, are trading normally without interruption, according to border traders. COVID-19 is found in every border with any country. It is also found in Thailand, for example. But trade did not stop there. Both sides are systematically trading in accordance with COVID-19 regulations. China’s request is just a pretext for the COVID-19 pandemic. 

The rest is something to think about, what they are doing because they want it, according to the Muse-Namkham trader community. China has demanded that four townships in Muse be declared a COVID-19-free zone, with little hope of reopening official border crossings in the Myanmar-Chinese trade town of Muse, according to the Muse-Namkham Chamber of Commerce. According to the website of the Ministry of Economy and Trade, the 105-mile border trade zone in Muse exported $ 3,049.884 million in the 2019-2021 fiscal year. Imports $ 1,840.694 million; The total trade volume was US $ 4,890.578 million, with exports US $ 2,900.680 million in the (interim) fiscal year 2020-2021. Imports totaled US $ 1,157.044 million. The trade volume was US $ 4,057.044 million, a decrease of US $ 833.534 million compared to the previous fiscal year. China has closed official border crossings with China due to the COVID-19 virus. Trade delays in the border trade zones such as Chin Shwe Haw, Khan Pite Tee, Kengtung have reduced trade volume by millions of dollars.

Source: Daily Eleven